Question 3Managerial accounting activity adds value to anorganization by pursuing five major objectives,which excludes:A. Providing information for decision makingand planningB. Assisting managers in directing and controllingoperational activitiesC. Measuring the performance of activities withinan organizationD. Providing information for external users offinancial report of the organisationO aProviding information for external users of financial reports of the organisationObAssisting managers in directing and controlling operational activitiesMeasuring the performance of activities within an organizationO dProviding information for decision making and planningQuestion 4Joy & Co. produces a product.Variable cost per unit is$15.Joy wants to, sell 14,000 units. Its total fixed costis $47,000. It wants to make a profit of $14,000. Whatis the Selling Price per Unit?A. $60B. $40C. $30D. $20$30O b$20$40O d$60O O O O

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Answered: Question 3 Managerial accounting…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3. The managerial role that involves the day-to-day running of the business is the A strategic planning function B directing function Colanning function D controlling function
“Provides input into an entity’s production and marketing decisions.” Is it not a primary function of the management accountant?
Financial statements are prepared in the light of applicable financial reporting framework. What is the purpose of preparation of financial statements a. To assist management in takin managerial decisions O b. For ascertainment and control of cost of product c. For ascertainment and control of cost of service d. To know financial performance, position and contribution of owner in the business
Explain the three terms how managmnt accountant play these role in organization or department futher you want to add more you can
Which of the following statements doesn't describe the organizational strategies: Select one: O a. Tactics that managers use to work toward the organisational vision O b. Contain organisation structure, financial structure, and long-term resource allocation strategies O c. Long term in nature O d. Short term in nature
_______ comprises of the plan of the organization and all the co-ordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data to promote operational efficiency and to encourage adherence to prescribed managerial policies. a. Internal Control b. Internal Audit c. Audit Plan d. Risk Assessment
1. Explain detail about Ethical values and principles in management accounting give two examples
Choose whether the following characteristics are most often associated with managerial accounting or financial accounting. Managerial Accounting Financial Accounting Primarily used for internal decision making Generally Accepted Accounting Principles (GAAP) must be used Prepared statements usually pertain to the company as a whole rather than individual departments or products Information provided will often be subjective, such as estimated future results Often prepared on an as-needed basis rather than at fixed intervals Use principles of the Sustainability Accounting Standards Board (SASB) to provide sustainability, information to external financial statement users Consideration of sustainability practices to contribute to the company's long-term success Using eco-efficiency measures to reduce expenses OOOO
There are several different areas of accounting. What type of accounting focuses on providing information to management so they can make better strategic decisions? Multiple Choice Internal Auditing Managerial Accounting Tax Accounting Financial Accounting External Auditing
Choose the correct answer(several answer options) Managerial Accounting… O …numbers have to be in line with the GAAP applied O …should assist external stakeholders in decision-making O …includes cost accounting as on of its major tools O …numbers are applied in financial / external accounting in certain cases

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